• Transfer Property Within The Group Of Companies. The Subsidiary Is Transferring Property To The Parent Company. Does A Conveyance Procedure Need To Be Completed?

    By Guest on 10th Dec 2018

    I work for the in-house legal department and have completed the TR1 and AP1 to transfer property between the subsidiary to the parent company. However do I need to go through the conveyance process as the directors and members are the same between the subsidiary and parent company.

  • 1 Answers

    By Guest on 11/12/2018

    It depends what you mean by "the conveyance process". Do you require searches? That depends if there is a lender involved and if not whether the purchasing company is willing to accept the risk of purchasing without searches. Should you report to your client? Yes, always. Do you need to pay SDLT and file a return? Only if £40,000 or more is being paid for the property. Do you need to register the transfer at HMLR? Yes.

    I hope that helps but there's no harm in instructing a conveyancing firm to do it if it's not in your area of expertise. I wouldn't practice family law for example as it's not my area! For conveyancing advice:

    www.notaryexpress.co.uk

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